Summit Global Investments lowered its holdings in Vericel Co. (NASDAQ:VCEL - Free Report) by 41.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,168 shares of the biotechnology company's stock after selling 8,663 shares during the period. Summit Global Investments' holdings in Vericel were worth $668,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Arcadia Investment Management Corp MI acquired a new stake in Vericel in the 4th quarter valued at $48,000. Smartleaf Asset Management LLC grew its stake in shares of Vericel by 511.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,265 shares of the biotechnology company's stock valued at $70,000 after buying an additional 1,058 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Vericel by 826.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,511 shares of the biotechnology company's stock valued at $138,000 after buying an additional 2,240 shares during the period. KBC Group NV lifted its position in Vericel by 82.5% during the 4th quarter. KBC Group NV now owns 2,707 shares of the biotechnology company's stock worth $149,000 after acquiring an additional 1,224 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Vericel in the 3rd quarter worth approximately $146,000.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on VCEL shares. HC Wainwright reiterated a "buy" rating and set a $60.00 price objective on shares of Vericel in a research note on Friday, February 28th. Truist Financial reiterated a "buy" rating and issued a $61.00 price objective (down previously from $67.00) on shares of Vericel in a report on Monday, March 3rd. BTIG Research raised their target price on Vericel from $56.00 to $66.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Stephens reiterated an "overweight" rating and issued a $65.00 price target on shares of Vericel in a research note on Wednesday, January 15th. Finally, Canaccord Genuity Group raised their price objective on Vericel from $64.00 to $67.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $62.29.
Check Out Our Latest Stock Analysis on Vericel
Insiders Place Their Bets
In other Vericel news, Director Robert L. Md Zerbe sold 2,500 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $62.50, for a total value of $156,250.00. Following the transaction, the director now owns 26,595 shares of the company's stock, valued at $1,662,187.50. This trade represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathan Siegal sold 3,908 shares of Vericel stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $61.99, for a total value of $242,256.92. Following the completion of the transaction, the insider now owns 1,206 shares of the company's stock, valued at approximately $74,759.94. The trade was a 76.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,092 shares of company stock valued at $1,683,582 over the last 90 days. 5.20% of the stock is owned by company insiders.
Vericel Price Performance
NASDAQ:VCEL traded down $0.35 during mid-day trading on Tuesday, reaching $47.59. The stock had a trading volume of 115,643 shares, compared to its average volume of 374,022. The stock's 50 day simple moving average is $54.16 and its two-hundred day simple moving average is $51.73. Vericel Co. has a 1-year low of $39.12 and a 1-year high of $63.00. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 797.30 and a beta of 1.78.
About Vericel
(
Free Report)
Vericel Corporation, a commercial-stage biopharmaceutical company, engages in the research, development, manufacture, and distribution of cellular therapies for sports medicine and severe burn care markets in North America. The company markets autologous cell therapy products comprising MACI, an autologous cultured chondrocytes on porcine collagen membrane for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; Epicel, a permanent skin replacement humanitarian use device for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns; and NexoBrid, a biological orphan product for eschar removal in adults with deep partial-thickness and/or full-thickness thermal burns.
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